Kuramo Capital Management was delighted to co-host the launch of the Institutional Investor Roadshow along with McKinsey & Company and the U.S. Department of Commerce at the St Regis Hotel in New York on Tuesday, September 29th, 2015. The Roadshow, which is an initiative of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), serves as a forum for engagement between African leaders and U.S. Institutional Investors. It is also a platform for government officials on the continent to provide U.S. investors with background on key infrastructure and their priority projects in their countries.
Stephan Selig, the U.S. Under Secretary of Commerce for International Trade led a roundtable discussion where U.S. investors outlined their expectations, metrics for risk evaluation, decision-making processes, and also exchanged ideas on essential infrastructure development projects in Africa. The Heads of State and senior government officials from various sub-Saharan countries were also given a platform to share information on the economic situation and investment climate in their respective countries.
Heads of State in attendance included His Excellency Hailemariam Desalegn, Prime Minister of Ethiopia; His Excellency Anerood Jugnauth, Prime Minister of Mauritius. Senior Government representatives of Kenya, Mozambique, and Cote d’Ivoire, business delegations from several African countries, and representatives of U.S. investment firms were also present at the event.
Walé Adeosun, Founder & Chief Investment Officer at Kuramo Capital Management gave the keynote address where he emphasized the importance of directing commercial capital to Africa in order to finance essential investments and projects. He also highlighted the importance of strong risk-adjusted returns at the investment and project level through self-sustainment and reliance on effective legal and regulatory practices. Finally, Mr. Adeosun touched on the necessity of continued improvements in governance and macroeconomic environment to provide stability and encourage investments in African economies. Also in attendance was African Union (AU) Commissioner, Fatima Haram Acyl, who highlighted the salience of infrastructural development in order to facilitate economic growth and create sustainable job growth in Africa. Ms. Acyl also mentioned the importance of improving the negative perception of doing business on the continent.
We at Kuramo Capital believe that initiatives such as this create an avenue for deliberating practical ideas on how to reduce risk in investments, encourage business development and increase capital flow in Africa.